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Over the past couple of years, Complex Event Processing has emerged as a hot technology for the financial markets, and its flexibility has been leveraged in applications as diverse as market data cleansing, to algorithmic trading, to compliance monitoring, to risk management. CEP is a solution to many problems, which is one reason why the emerging marketplace is growing, with many vendor options to choose from.
But CEP is not a solution in itself, and so technologists need to concern themselves with how to integrate it within a complete application architecture, how it can best be leveraged, and how to streamline development and deployment. And with multiple vendor choices, choosing the right CEP approach for the job is an important, and early, activity for firms looking to adopt it.
CEP specialist Progress Apama has released an enhanced Parallel Correlator that leverages multi-core, multi-processor functionality to deliver superior processing performance. In particular, internal benchmark testing using real-world customer scenarios revealed a seven-fold increase in event processing performance on an eight core machine. In a separate development, Apama has integrated its Algorithmic Trading Accelerator with Vhayu Technologies’ historical data platform.
Skyler Technology has launched Market Data Management to simplify the management of multiple market data sources within the enterprise market data infrastructure. The offering is targeted particularly at the growing number of financial organisations that rely on more than one source of data for the pricing of the instruments that they trade. The new solution will help organisations in managing the different instrument symbols used by each trading venue or vendor feed, removing an ongoing problem for their trading applications, and significantly improving overall data quality, efficiency and resilience.
Netbuilder has introduced a time-series component for its Landmark market data platform. The new component captures all market ticks in real time, and aims to help firms demonstrate best execution.
IBM working with TD Securities has unveiled what it claims is a “revolutionary prototype of the world’s fastest automated options trading system.” The prototype combines IBM’s InfoSphere Streams offering and its Blue Gene/P supercomputer, and was found to be capable of handling data at 21 times the speed of Options Price Reporting Authority (OPRA), the world’s single largest market data feed, while maintaining low end-to-end latencies.
Vhayu Technologies, which uses CEP technology in a number of financial solutions, is collaborating with NetApp to integrate the vendor’s storage offerings to allow customers to store and share tick data volumes in the multiterabyte range. Vhayu customers benefit from NetApp’s storage access using multiple protocols - including FC, iSCSI, NFS, and CIFS - in a single architecture.
Sybase is entering the Complex Event Processing business with the introduction of Sybase CEP, which is being offered - initially at least - as an option to its RAP – The Trading Edition capital markets analytics platform. The product results from the vendor’s licensing of code for Coral8’s CEP engine, which has been enhanced for interoperability, confirms Domenic Iannaccone, director of business development, financial fervices industry. In the future, Sybase will continue to develop the CEP engine and might offer it in conjunction with other Sybase products, he says.
In the wake of the merger of Aleri and Coral8, StreamBase Systems has announced a trade-in deal for Aleri/Coral8 customers, allowing them to migrate from those vendor’s offerings to StreamBase’s own Complex Event Processing (CEP) product. Under the “StreamBase Amnesty Program,” Aleri and Coral8 customers will have until April 30th to register their interest in such a trade in.
StreamBase has designed a best practices workshop for those investigating the migration process, and is also providing free porting services for any Aleri/Coral8 clients that purchase StreamBase in 2009.
Complex Event Processing vendors Aleri and Coral8 are merging. The new company - called Aleri - will offer the combined product set of both companies, which company executives describe as complementary. Aleri CEO Don DeLoach will head the combined company, while Coral8 CEO Terry Cunningham becomes non-executive chairman. The companies are not disclosing financial terms of the deal.
StreamBase Systems’ complex event processing (CEP) platform has been certified for Lime Brokerage’s Citrius market data feed and FIX engine, allowing StreamBase clients to execute on the Lime Trading System, a high-speed execution platform for U.S. equities, derivatives, ETFs, futures and options. StreamBase’s connectivity to Lime will be generally available in an upcoming release of StreamBase in early Spring 2009.
StreamBase Systems is adding access to Interactive Data Corp. Real-Time Services’ PlusFeed consolidated data feed via its high-performance data management platforms.
Despite widespread doom and gloom, investment in low-latency market data and supporting infrastructure appears to be weathering the credit crunch. Some 40% of respondents to a recent survey by complex event processing platform provider StreamBase said they planned to increase spending in the area in 2009.
Boston-based quantitative investment advisor PhaseCapital has selected StreamBase’s complex event processing platform as the foundation for real-time market data feed processing and automated trade execution management. The decision followed what StreamBase calls “a comprehensive evaluation of CEP products.”


















